R 4 995 000 | House for Sale in Durban North

Prime Investment Property in Central Durban North

Location:
Positioned in the heart of Durban North, this property enjoys proximity to the vibrant Broadway and Mackeurtan commercial precincts, alongside easy access to main schools, shopping centers, and medical facilities.

Property Overview:
This expansive property is ideal for investors looking for income generation or those wishing to combine residence with investment opportunities.

Main House:
Layout: Originally designed as a BnB, this house offers:
4 Bedrooms: All ensuite, with two featuring walk-in/through dressers and full bathrooms. Three bedrooms have independent entrances, and air conditioning is provided in three.
Conversion Potential: One bedroom can be transformed into an independent cottage/unit.
Additional Spaces: Cellar/movie room, two lounges (one with air conditioning), dining area, office, upstairs patio, rumpus room.
Kitchen: Includes scullery and pantry.
Utilities: Access to single garage, laundry, with entire downstairs air-conditioned.

Cottages/Rental Units:
Studio Cottage: Fully furnished, with air conditioning, TV (DSTV), rent potential R7,250/month.
Small Room Cottage: Also fully furnished, with air conditioning and TV (DSTV), rent potential R6,500/month.
Large One-Bedroom Cottage: With private garden and braai area, air-conditioned, rent potential R11,000/month.
Additional Room in Main House: Large room with walk-through dresser, full ensuite, air-conditioned, rent potential R7,000/month.

Current Rental Income:
The cottages and room collectively generate approximately R30,000/month in rental income. All are sold fully furnished as part of a going concern, with tenants on month-to-month leases.

Outbuildings:
Two small storerooms
Double garage
Staff ablutions
Gym room
Bar in the Lapa

Additional Features:
Secluded laundry drying area
Braai area
Lapa
Pool

Important Notes:
Several unfinished building/maintenance projects exist. Property sold "voetstoots" - as is.

Investment Opportunities:
Residential Use: Live in the main house.
Rental Income: Continue or expand the existing rental scheme.
Short-term Lets: Potential for Airbnb with the main house and/or cottages.
Commercial Conversion: Given local precedents already set, parts or all of the property could possibly be converted for commercial use by application for business consent subject to municipal requirements.
Renovation and Resale: Complete outstanding projects to enhance value and resell.

This property represents a unique blend of residential luxury and investment potential in one of Durban North's most sought-after locations.